Kikki.K Hits Hard Times, With 450 Jobs at Risk

The future is unwritten.

Your beloved stationery outlet kikki.K has gone into voluntary administration, meaning the business might be shutting up shop for good.

We know this is not what you want to hear during a time of global panic, with concerns over coronavirus and falling stock markets already shaking society to its core, especially since kikki.K stores, or their little nooks within larger retailers, often had a calming presence (particularly on those of us who find solace in organisational notebooks and folders).

However, the directors of the company have nonetheless decided to put kikki.K into voluntary administration, which is when an independent assessor steps in to find a profitable outcome for the shareholders of an underperforming business. The decision comes following a difficult Christmas trading period (not to mention what they're calling in a statement "the triple-whammy of soft consumer demand, the business impact of bushfires and more recently the unprecedented and profound impact of coronavirus which is hitting so many businesses and countries so hard").

"It is with profound regret and sadness that we take this action," said kikki.K founder Kristina Karlsson in a statement.

"This business began with a young girl's dream 20 years ago and became and international success story with customers in over 150 countries."

RIP to Kikki K and also to boyfriends and husbands everywhere who now, after almost two decades of safety and security, need to shop elsewhere for Christmas and birthday gifts for the women in their lives. https://t.co/MhkRAl2YiL

— Áine Ryan (@AineFRyan) March 10, 2020

Those now in charge of kikki.K say they’re "urgently working with management in respect of a plan to restructure the business and enhance value, whilst also investigating a sale of the kikki.K," citing its strong global following and annual sales of almost $AUD70 million.

According to 9 News, co-founder and CEO of kikki.K Paul Lacy said he had tried to find a global buyer but "ran out of time".

There’s now the question of what’ll happen to kikki.K’s 450 full-time employees and its stores in Australia, New Zealand, Singapore, Hong Kong and the UK.

The administrators say its going to be business as usual for the time being. But on social media, kikki.k is asking fans to share the #kikkiKlove by remembering the good times…

Header Image: Enex Perth